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Joint Venture Accounting Cloud (JVA)

12+ years

Experience in the upstream Energy sector to build the application.

Effortlessly Manage Your JVA Lifecycle in the Cloud

Joint Ventures are critical in today’s challenging Energy sector, however, tracking the accounting aspects of Joint Ventures across partners and projects can be challenging due to the many complex steps in the DOI, AFE and subsequent JVA processes.​ The inability to manage these processes in an end- to-end finance system can lead to calculations off-system and multiple sources of information.​ This in turn can lead to lack of visibility, governance and control.

How Does Inoapps' JVA Cloud Support Your Business?

The application works hand in hand with Oracle ERP Cloud, to deliver the key functionality needed to track the financial operations of Joint Ventures, including management of Equity Groups, Authorisation for Expenditure (AFE) approvals, allocation of Equity carry, Joint Venture Billing, Cutbacks and Revenue Share; giving all joint venture partners visibility, control, governance and audit capabilities.​


Inoapps has leveraged 12+years’ experience in the upstream Energy sector to build the application and provides real-time insight into the actual costs and revenue of Joint Ventures.

 

Benefits

  • More accurate distribution of costs and revenue amongst partners
  • Efficient and streamlined Joint Interest Billing
  • Adapts to your business as you grow
  • Reduces errors through automation
  • Enables better, faster decision-making
  • Shortens budget approval process 
  • Improves efficiency and time spent solving disputes and queries

 


 


 

 

Key Features

  • Complete functionality to track the financial operations of Joint Ventures, giving all joint venture partners visibility, control, governance and audit capabilities
  • Powerful equity share and DOI management framework to allow the detailed and accurate tracking of partner allocations across agreements over time
  • Enables AFE Approvals, Equity Carry, Cutback, Cash Call, Billing and period adjustments across expenditure and revenue-based models
  • Provides single view of costs, revenue and allocations, based on DOI, combined with a comprehensive audit trail
  • Partner Portal gives fast access to information and reporting by partner, equity share group, project and project task
  • Users define partner share and automate cost allocations based on rules defined for each JV project
  • Streamlined workflow and automapping of fields and codes between all partner systems​ speed up cost recovery 
  • JV billing statements and invoices are generated by the system, following automated user-defined approval processes before release
  • Powerful equity share and DOI management framework to allow the detailed and accurate tracking of partner allocations across agreements over time
  • Provides single view of costs, revenue and allocations, based on DOI, combined with a comprehensive audit trail

Our Energy Customers

“The success of TechnipFMC’s current phase of our implementation process is largely due to our close partnership with Inoapps. Their consultants have an impressive knowledge of our business and industry and work as one team with our people to deliver on time and on budget. As the global rolls out continues, we are beginning to enjoy robust and standardized processes, with the ultimate goal to achieve visibility of information across all our businesses.”

- Stuart Millar,SVP & Chief Information Officer, TechnipFMC